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  • Very true about the stepped-up basis. His application of the mechanics makes sense, at least in my opinion.At least the mother won't have to pay any capital gai...
    mptax
    May 03, 2021
  • The Life Tenant can't remember anything but the kids were raised there. They know some of the improvements but without any records we have nothing to definitely...
    mptax
    May 03, 2021
  • For those of you who are interested in this issue:I spoke with a lawyer in New York today who was able to tell me the procedure to assign the amount each person...
    mptax
    4
    May 03, 2021
  • Thank you.
    mptax
    5
    May 03, 2021
  • I agree with moving to Florida to avoid this house issue. When other assets are "protected" the grantor is always subject to constraints that are often confusin...
    mptax
    May 03, 2021
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